Sensex little changed; profit-taking seen in some heavyweights

Reuiters Market Eye - The BSE Sensex was little changed on Tuesday as losses in some heavyweights were offset by gains in technology stocks.

The benchmark BSE Sensex was up 0.11 percent while the broader Nifty was trading 0.12 percent higher as of 10:30 a.m.

Overseas investors, who have played a key role in the near 23 percent gain in Indian markets so far this year, sold shares worth a net 1.94 billion rupees on Monday after three days of buying.

Asian shares struck a cautious tone as the double-whammy of a deepening conflict in Iraq and a gas dispute between Ukraine and Russia sapped investors' appetite for risk.

 

Investors took profits in some heavyweights including Housing Development Finance Corp and Mahindra and Mahindra Ltd. HDFC was down 1.58 percent while Mahindra and Mahindra Ltd fell 1.06 percent.

However, export-oriented stocks such as technology gained for a second straight day. Infosys Ltd was up 0.09 percent, Tata Consultancy Services Ltd 0.62 percent and Wipro Ltd higher 0.28 percent.

(Reporting by Indulal PM)